Trump met with oil and gas executives as Iran war drags on, prices surge
Summary
President Donald Trump met with oil and gas company leaders to discuss the ongoing war in Iran and its impact on gas prices in the U.S. Gas prices have risen to $4.23 per gallon, the highest in four years, as the U.S. naval blockade of the Strait of Hormuz continues. The president rejected a deal with Iran that would end the blockade without a nuclear agreement.Key Facts
- President Trump and officials met with oil and gas executives on April 28, 2026, to talk about the Iran war and energy supply.
- The U.S. naval blockade at the Strait of Hormuz remains until Iran agrees to a peace plan focused on nuclear issues.
- Gas prices in the U.S. reached $4.23 per gallon, up 44% since the Iran war began.
- Trump canceled a planned negotiation trip to Pakistan, stating he saw no point in sending negotiators.
- Treasury Secretary Scott Bessent hosted the meeting, with Vice President JD Vance and Chief of Staff Susie Wiles also attending.
- The meeting covered topics like U.S. oil production, Venezuela’s role in oil, oil futures markets, natural gas, and shipping logistics.
- Trump used the Defense Production Act to increase energy production and extended a waiver to allow foreign ships to move goods between U.S. ports.
- Rising gas prices are causing concern among Americans and political risk for Republicans ahead of the November elections.
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